Median Home Price
$409,594.98
Median Rent
$2,084.02/mo
Price-to-Rent Ratio
16.4
Property Tax RateTIE
0.82%
Price Change (1Y)BETTER
+3.0%
Price Change (5Y)BETTER
+15.0%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$125,641
Median Home PriceBETTER
$215,832.95
Median RentBETTER
$1,270.69/mo
Price-to-Rent RatioBETTER
14.2
Property Tax RateTIE
0.82%
Price Change (1Y)
+2.9%
Price Change (5Y)
+14.4%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$51,843
Key Differences
Home Prices
Chesapeake's median home price of $409,594.98 is higher than Roanoke's $215,832.95 by 90%.
Monthly Rent
Renting in Chesapeake costs $2,084.02/mo compared to $1,270.69/mo in Roanoke—a difference of $813.33/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.